Before digging too deep into this topic, it helps to understand the “SMA” (Social Media Analytics) jargon! The following is Garious glossary of SMA’s most important terms. Enjoy!
Important Note Before We Start…
This glossary is NOT presented in alphabetical order because some terms are related to each other. So, I figured it’s best to order them in a way that will help you understand all of them without having to skim back and forth.
Garious Glossary Of Social Media Analytics: Most Important Terms
1. Social Reach
The total number of users associated with a brand on different social media platforms. (For example, a company with 10,000 Twitter followers, 7,000 Facebook fans, 3,000 blog subscribers and 1,000 YouTube subscribers has a total Social Reach of 21,000)
2. Social Reach Velocity
A percentage representing a brand’s capacity to increase its social reach over time. (For example, if a company’s social reach was 10,000 in January of 2011 and became 15,000 six months later, then it has 50% social reach velocity.)
3. Social Profile
The aggregated shares, comments, and overall brand-related activities of a social media user. (Social profile examples include: Twitter followers, Facebook fans, RSS subscribers and so forth )
4. Social Conversion
The percentage of visitors originating from social media who take a desired action. (Examples of desired actions include product sales, downloads, newsletter subscriptions, membership registrations and so forth.)
5. Social Mention
The overall mentions of your brand on social media in a positive/neutral/negative context over a specific period of time.
(SocialMention.com is an excellent tool that offers four important social mention metrics: strength, sentiment, passion and reach)
6. Brand Sentiment
The ratio of positive brand mentions to negative mentions.
7. Share of Voice
Brand share of voice = (total number of mentions of you + your competitors)/ your mentions.
8. Share of Social Conversations
Brand Share of Social Conversations= Social Brand Mentions/All Relevant Conversations
9. Social Media Impressions
The number of users’ reactions to your own content on social media, including retweeting, commenting, sharing and so forth.
10. Optimal Engagement Times
The best times to share content or engage with your network on social media.
(Studies have shown that many social media sites (such as Twitter and Facebook) have peak hours: the times when it’s most effective to share updates or interact with user )
11. Content-to-Contact Ratio
The ratio between a brand content and social network expansion.
(For example, if your content-to-contact ratio is 3:1, it means that for every 3 pieces of content you publish, a new user is added to your social network.)
12. Content-to-Share Ratio
The ratio between your brand content and social network sharing.
(For example, if your content-to-share ratio is 3:1, it means that for every 3 pieces of content you publish, one piece of content is shared on social media channels.)
13. Activity Ratio
The ratio of active members of your brand’s social network versus total members.
14. Bounce Rate
The time it takes site/blog visitors originating from social media to lose interest and leave your site.
15. Targeted Social Traffic
The percentage of social media traffic to your site/blog that results in sales compared to the overall social media traffic.
Where Do We Go From Here?
I know the list can go on forever, but I tried to assemble the most important and generic SMA terms and KPIs that are commonly important to most businesses.
Stay tuned for upcoming articles as I will be discussing the difference between quantitative and qualitative KPIs.
In addition, I will be presenting lists of tools and detailing the KPIs they measure so you can make an informed decision and make sure that your SMA efforts are aligned to your business objectives.
Until then, I need your help in expanding this glossary. What additional terms/KPIs would you recommend? Thanks in advance for your valuable contribution.